The conference was attended by representatives of the State Duma, the Bank of Russia, the All-Russian Insurance Association (ARIA), leading Russian insurers, professional insurance intermediaries, rating agencies, consulting organizations and companies of the InsurTech sector. The participants discussed problems and prospects of insurance sales in the context of the pandemic and an unfavorable economic situation.
The participants were greeted by Anatoly Aksakov, Chairman of the State Duma Committee of the Federal Assembly of the Russian Federation on the financial market, who summed up the results of 2020 and announced forecasts for 2021, as well as immediate plans for legislative work. "Last year, despite all the challenges, the insurance market demonstrated its stability and provided maximum opportunities for the remote insurance services. European Accident Statement has become fully operational throughout the country; citizens are actively using the mobile application developed by the RAMI and the Central Bank. At the end of 2020, a law was adopted in the 1st reading, which, among other things, strengthens the electronic document flow and provides the right to policyholders to submit documents for compensation in an electronic form. A law on the marketplace was adopted and came into effect, as a result, now all types of financial services can be obtained through the electronic platform. At the end of the year, a law on a unified biometric system was also adopted, which provides for expansion of the possibilities for remote identification of customers when receiving remote financial services. Digitalization remains an important area of attention for legislators", Aksakov said.
The conference was attended by representatives of the financial regulator. Ivan Kozlov, Deputy Head of the Consumer Protection and Financial Services Accessibility department of the Bank of Russia devoted his speech to countering mis-selling, as well as key information documents (KIDs). According to him, "there were issued 9 KIDs on mass insurance products, and 4 of them will be introduced by ARIA from April 2021, which means 1,5 years after their development, and for the remaining 5, the terms have not yet been determined".
Elena Chaikovskaya, Advisor to the First Deputy Chairman of the Bank of Russia, devoted her report to the development of the Bank's financial marketplace, which was launched and now 4 types of financial products are available on it, including an insurance one - MTPL.
Representatives of insurance companies and associations discussed issues of sales development in the context of the pandemic and macroeconomic crisis. The specialists also analyzed ways of countering mis-selling, the development of electronic sales and after-sales customer service, as well as the new format of insurance agents' work. IT companies spoke about their solutions for insurance companies in terms of automation of processes related to sales and digital interaction with consumers, agents, and partners.
During the conference, awards were also given to the companies-winners of the InsurSelling-2021 award, which showed the best results in digital transformation and development of sales of insurance products.
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